YU BIN 4

What Happened
Yu Bin, a director of GDS Holdings Ltd (GDS), acquired 1,190 American Depositary Shares (ADSs) on 2026-05-15 through the settlement of fully vested restricted stock units (RSUs). The transaction is reported as Code J ("other acquisition") at $0.00 per ADS, total reported value $0.00. Per the filing, each ADS represents eight (8) Class A ordinary shares, so the award equals 9,520 underlying ordinary shares.

Key Details

• Transaction date: 2026-05-15; transaction type: Other acquisition (Code J) — settlement of vested RSUs.
• Amount acquired: 1,190 ADSs at $0.00 per ADS; reported total value $0.00.
• Underlying shares: 1,190 ADSs × 8 = 9,520 Class A ordinary shares (per footnote).
• Footnotes: F1 = each ADS represents 8 Class A shares; F2 = acquisition reflects settlement of fully vested RSUs.
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing timeliness: Filing date matches transaction date (2026-05-15); no late filing indicated in the information provided.

Context
This was a compensation/award settlement (RSU vesting), not an open-market purchase or sale. Such settlements are routine parts of executive/director compensation and do not by themselves indicate a change in insider sentiment or trading strategy. Retail investors should treat RSU settlements differently from voluntary purchases when interpreting insider activity.